Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Australian (ASX) Market Analysis & Valuation

UpdatedNov 11, 2025
DataAggregated Company Financials
Companies1566
  • 7D-0.2%
  • 3M0.2%
  • 1Y6.6%
  • YTD7.4%

In the last week, the market has stayed flat, however the Energy sector stood out, gaining 3.2%. As for the longer term, the market has risen 6.6% in the past 12 months. Earnings are forecast to grow by 12% annually.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

Has the Australian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 12 Nov 2025AU$3.0tAU$1.2tAU$110.2b21x27.1x2.5x
Fri, 10 Oct 2025AU$3.0tAU$1.2tAU$110.4b21.3x27.5x2.5x
Sun, 07 Sep 2025AU$3.0tAU$1.2tAU$111.3b20.5x26.9x2.5x
Tue, 05 Aug 2025AU$2.9tAU$1.2tAU$103.7b18.6x28.1x2.4x
Thu, 03 Jul 2025AU$2.9tAU$1.2tAU$102.3b18.5x28.2x2.4x
Sat, 31 May 2025AU$2.8tAU$1.2tAU$103.1b18.2x27.3x2.3x
Mon, 28 Apr 2025AU$2.7tAU$1.2tAU$104.1b17.2x25.5x2.2x
Wed, 26 Mar 2025AU$2.6tAU$1.2tAU$104.5b17.5x25.3x2.2x
Fri, 21 Feb 2025AU$2.8tAU$1.2tAU$100.8b19.2x27.6x2.4x
Sun, 19 Jan 2025AU$2.7tAU$1.2tAU$90.2b19.3x30.4x2.3x
Tue, 17 Dec 2024AU$2.7tAU$1.2tAU$89.2b20.1x30.5x2.3x
Thu, 14 Nov 2024AU$2.7tAU$1.2tAU$88.0b19.5x30.8x2.3x
Sat, 12 Oct 2024AU$2.7tAU$1.2tAU$87.7b19.5x31x2.4x
Mon, 09 Sep 2024AU$2.6tAU$1.2tAU$88.1b19x29.9x2.3x
Wed, 07 Aug 2024AU$2.5tAU$1.2tAU$92.5b18.5x27.3x2.2x
Fri, 05 Jul 2024AU$2.6tAU$1.2tAU$91.2b19.1x28.6x2.3x
Sun, 02 Jun 2024AU$2.6tAU$1.2tAU$92.2b18.9x27.9x2.2x
Tue, 30 Apr 2024AU$2.5tAU$1.2tAU$91.0b19.6x28x2.2x
Thu, 28 Mar 2024AU$2.6tAU$1.2tAU$95.9b19.6x27.2x2.2x
Sat, 24 Feb 2024AU$2.6tAU$1.2tAU$105.8b19.1x24.2x2.2x
Mon, 22 Jan 2024AU$2.5tAU$1.2tAU$115.4b18.6x21.5x2.1x
Wed, 20 Dec 2023AU$2.5tAU$1.2tAU$115.1b18.5x21.8x2.1x
Fri, 17 Nov 2023AU$2.4tAU$1.2tAU$117.0b18x20.3x2x
Sun, 15 Oct 2023AU$2.4tAU$1.2tAU$120.0b17.8x19.8x2x
Tue, 12 Sep 2023AU$2.4tAU$1.2tAU$120.4b18.1x20.1x2x
Thu, 10 Aug 2023AU$2.5tAU$1.2tAU$145.6b16.8x16.9x2.1x
Sat, 08 Jul 2023AU$2.3tAU$1.1tAU$144.4b16.1x16.3x2x
Mon, 05 Jun 2023AU$2.4tAU$1.2tAU$146.0b16.1x16.4x2.1x
Wed, 03 May 2023AU$2.5tAU$1.2tAU$144.7b16.4x16.9x2.1x
Fri, 31 Mar 2023AU$2.4tAU$1.2tAU$144.5b15.9x16.5x2.1x
Sun, 26 Feb 2023AU$2.5tAU$1.1tAU$139.3b16.7x17.6x2.2x
Tue, 24 Jan 2023AU$2.5tAU$1.1tAU$146.5b16.4x17.1x2.3x
Thu, 22 Dec 2022AU$2.4tAU$1.1tAU$149.4b14.6x16x2.2x
Sat, 19 Nov 2022AU$2.4tAU$1.1tAU$150.1b14.7x16.1x2.2x
Price to Earnings Ratio

16.1x


Total Market Cap: AU$2.4tTotal Earnings: AU$150.1bTotal Revenue: AU$1.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Market Price to Earnings3Y Average 24x202320242025
Current Market PE
  • Investors are optimistic on the Australian market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 27.1x which is higher than its 3-year average PE of 24.0x.
Past Earnings Growth
  • The earnings for Australian listed companies have declined 9.8% per year over the last three years.
  • Meanwhile revenues for these companies have grown 3.2% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Sector Trends

Which sectors have driven the changes within the Australian Market?

AU Market-0.15%
Energy3.16%
Utilities3.11%
Materials2.01%
Telecom1.84%
Consumer Staples1.25%
Real Estate0.32%
Healthcare0.29%
Industrials-0.025%
Consumer Discretionary-1.28%
Financials-2.03%
Tech-2.68%
Sector PE
  • Investors favour the Tech sector the most for future growth which is trading above its 3-year average PE ratio.
    • Analysts expect its future annual earnings growth (23.0%) to be largely in line with prior year's earnings growth.
    • The market's confidence could indicate that the market believes that analysts are underestimating future growth.
  • The Energy sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average of 12.4x.
Forecasted Growth
  • Analysts are most optimistic on the Tech sector, expecting annual earnings growth of 23% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Financials sector is expected to see its earnings grow by 6.0% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
ANZ ANZ Group HoldingsAU$38.163.6%
+AU$4.0b		17.2%PB1.6xFinancials
WDS Woodside Energy GroupAU$26.556.5%
+AU$3.1b		11.3%PE11.2xEnergy
NST Northern Star ResourcesAU$25.998.7%
+AU$3.0b		57.0%PE27.7xMaterials
TLS Telstra GroupAU$5.085.0%
+AU$2.7b		31.3%PE26.4xTelecom
TCL Transurban GroupAU$15.104.5%
+AU$2.0b		17.2%PE353.6xIndustrials
See more

Market Insights

Header cover image
⚠️ Default Distress: What Private Credit Troubles Could Mean for Regional Banks
Richard Bowman avatar
Richard Bowman
|
|
In this week’s piece, we’ll: Explain what’s happening in the world of private credit, Review why the industry presents new risks today, Identify how investors can reduce downside exposure
Continue reading
🏦 Room to Run: A Look at Where the Financial Sector Could Go
Last Week

🏦 Room to Run: A Look at Where the Financial Sector Could Go

Latest News

QBE
AU$20.28
QBE Insurance Group
7D
4.1%
1Y
9.2%
NST
AU$25.99
Northern Star Resources
7D
8.7%
1Y
57.0%

Northern Star Resources Limited's (ASX:NST) CEO Looks Like They Deserve Their Pay Packet

Nov 11
Northern Star Resources Limited's (ASX:NST) CEO Looks Like They Deserve Their Pay Packet
MQG
AU$207.46
Macquarie Group
7D
-4.5%
1Y
-10.3%

Macquarie Group Limited (ASX:MQG) Interim Results: Here's What Analysts Are Forecasting For This Year

Nov 10
Macquarie Group Limited (ASX:MQG) Interim Results: Here's What Analysts Are Forecasting For This Year
ANZ
AU$38.16
ANZ Group Holdings
7D
3.6%
1Y
17.2%
NAB
AU$42.70
National Australia Bank
7D
-2.5%
1Y
10.1%
EVN
AU$11.27
Evolution Mining
7D
8.6%
1Y
139.8%

EVN: Gold Price Strength And Stable Outlook Will Shape Next Phase

Analysts have increased their price target for Evolution Mining from A$8.50 to A$10.50, with stronger gold prices cited as the primary driver behind this upward revision. Analyst Commentary Bullish analysts have raised their outlook on Evolution Mining following continued strength in gold prices.
FMG
AU$19.90
Fortescue
7D
-2.9%
1Y
9.7%

FMG: Fiscal Outlook Will Balance Dividend Strength Against Key Market Risks

Analysts have slightly raised their price target for Fortescue to A$18.93 from A$18.52. This change reflects updated valuation models following the latest fiscal report.
BHP
AU$42.79
BHP Group
7D
0.6%
1Y
4.6%
GMG
AU$30.95
Goodman Group
7D
-4.3%
1Y
-15.3%

GMG: Significant Data Centre Investment Will Drive Operating Profit Higher

Analysts have revised Goodman Group’s price target downward from $37.82 to $37.39. They cite adjustments in projected revenue growth and a higher discount rate as key factors influencing their outlook.
JHX
AU$26.20
James Hardie Industries
7D
-14.0%
1Y
-47.9%

JHX: Shares Will Benefit From Azek Acquisition And Expected Margin Upside

Analysts have modestly increased their fair value estimate for James Hardie Industries from $36.63 to $36.82 per share. This change is based on expectations of higher revenue growth and improved profit margins, supported by recent research coverage and industry developments.
WBC
AU$40.05
Westpac Banking
7D
-0.9%
1Y
24.8%
WES
AU$81.31
Wesfarmers
7D
-2.7%
1Y
17.4%
WDS
AU$26.55
Woodside Energy Group
7D
6.5%
1Y
11.3%

WDS: Net Profit Margin Improvement Will Influence Returns Amid Energy Price Volatility

Narrative Update: Woodside Energy Group's Analyst Price Target Raised Analysts have raised their price target for Woodside Energy Group from $27.19 to $27.38, citing small improvements in fair value and profit margin estimates, even though the revenue growth outlook is slightly lower. Analyst Commentary Recent analyst discussions on Woodside Energy Group highlight both opportunities and ongoing risks as the company's targets are adjusted upward.
CBA
AU$163.40
Commonwealth Bank of Australia
7D
-6.2%
1Y
8.8%

We Think Some Shareholders May Hesitate To Increase Commonwealth Bank of Australia's (ASX:CBA) CEO Compensation

Oct 08
We Think Some Shareholders May Hesitate To Increase Commonwealth Bank of Australia's (ASX:CBA) CEO Compensation
TCL
AU$15.10
Transurban Group
7D
4.5%
1Y
17.2%

Transurban Group's (ASX:TCL) Shares May Have Run Too Fast Too Soon

Oct 04
Transurban Group's (ASX:TCL) Shares May Have Run Too Fast Too Soon
TLS
AU$5.08
Telstra Group
7D
5.0%
1Y
31.3%

Investor Optimism Abounds Telstra Group Limited (ASX:TLS) But Growth Is Lacking

Sep 22
Investor Optimism Abounds Telstra Group Limited (ASX:TLS) But Growth Is Lacking